Accounting 381 Winter 2010 Quiz 2: 15 points (1 point each)
1. Which of the following is an example of managing earnings down? a. Changing estimated bad debts from 3 percent to 2.5 percent of sales. b. Revising the estimated life of equipment from
Accounting 350 Quiz Chpts. 3 & 4
Use the following information for questions 102 through 104: Olsen Company paid or collected during 2010 the following items: Insurance premiums paid Interest collected Salaries paid $ 10,400 33,900 120,200
Dr. M. D. Chase Accounting 300A 11-A
Long Beach State University Page 1
PURPOSE OF INCOME MEASUREMENT A . I n general accountants measure income to assess the effectiveness of operations as they relate to the goal(s) of an enterprise.